$GRMN is in a new “Go” trend as it contends with overhead resistance.
We saw a drawn out “NoGo” correction that moved price mostly sideways after a low in May. During this time, we saw the virtual fight between the bulls and bears reflected by two Max GoNoGo Squeeze’s. Ultimately, the “NoGo” gave way first to amber “Go Fish” bars of uncertainty and then aqua followed by bright blue “Go” bars. By this time, GoNoGo Oscillator was above the zero line, confirming the new trend. Now, we see that GoNoGo Oscillator has found support at that level as GoNoGo Trend paints another strong blue bar. With momentum therefore resurgent in the direction of the “Go” trend, we see a Go Trend Continuation Icon (green circle) under the price bar. We will look for price to consolidate at these elevated levels above resistance before perhaps climbing further in the coming days.
